Crompton up 3% on power transformers contract from Denmark co

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Moneycontrol Bureau

Shares of Crompton Greaves climbed 2.7 percent intraday Wednesday on getting power transformers supplying contract from the Denmark-based company.

"Crompton has received a contract from Denmark's national electricity transmission system operator Energinet.dk to provider power transformers and gas insulated switchgear for Kriegers Flak wind farm project in the Baltic Sea," says the Avantha Group company in its filing.

Kriegers Flak will be Denmark's largest offshore wind farm project and is to be developed in close partnership with their regional neighbours Sweden and Germany.

The company says wind farm is planned to go into operation sometime between 2018 and 2020, adding it will help to provide electricity to over 6 lakh homes in three countries.

At 10:39 hours IST, the scrip of Crompton Greaves was quoting at Rs 187.85, up Rs 0.85, or 0.45 percent on the BSE.Posted by Sunil Shankar Matkar